The Sensex opened 34 points higher at 8,971 on the back of recovery in global markets. Smart pullback in Reliance and metal stocks helped the index extend gains in morning trades.
The index rallied to a high of 9,236 - up 299 points from the previous close. However, weakness in capital goods, banking and technology stocks cut short the upmove. A sudden bout of buying in mid-noon trades dragged the index into the negative zone.
The index, therafter, tumbled to a low of 8,727 - down 509 points from the day's high - at the fag end of the day. The Sensex finally ended with a loss of 163 points at 8,774.
The BSE Capital Goods index plunged 3.5% to 6,397, and the Bankex dropped nearly 3% to 4,597. On the other hand, the FMCG index gained 1.5% at 1,866.
The market breadth was fairly negative - out of 2,573 stocks traded, 1,715 declined, 779 advanced and 79 were unchanged today.
Jaiprakash Associates slumped 6% to Rs 64. Hindalco and Reliance Communications plunged over 5% each to Rs 50 and Rs 199, respectively.
Grasim tumbled 4.6% to Rs 931. Larsen & Toubro and Reliance Infrastructure shed 4% each at Rs 732 and Rs 456, respectively.
HDFC, ICICI Bank and Satyam slipped around 3.7% each to Rs 1,366, Rs 348 and Rs 233, respectively.
HDFC Bank and Wipro dropped over 3% each to Rs 887 and Rs 223, respectively.
BHEL declined 2.8% to Rs 1,231. SBI, Tata Motors, NTPC and ONGC were down around 2.5% each at Rs 1,080, Rs 135, Rs 136 and Rs 653, respectively.
ITC surged nearly 3% to Rs 165.
Ranbaxy rallied nearly 2% to Rs 216, and Mahindra & Mahindra added 1% to Rs 304.
Comments